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Pension entitlement question

  • pompeyships
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11 Feb 08 #13470 by pompeyships
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Wow - thanks to everybody who pitched in with advice. Seriously, thanks! Having re-read a couple of times, I guess a couple of things spring to mind:

1) Looks like the principle 50% from 1993-2003 is about right then. There would be no intention to look for any share of the contributions made after separation. However...

2) We hadn't even thought of the issue of interest acrrued on the 2003 balance since, and that's something we'll look into

3) The bad news... my partner has no information on the pension funds (where, how much) so will need to rely on disclosure. However because the funds are relatively large in value (due to the amount invested and nature of the markets during the majority of that time) we suspect he will fight disclosure.

We're very keen to avoid lengthy court proceedings over this so would far rather be able to settle out-of-court.

So I imagine next steps are to go ahead with mediation and try to get an amicable disclosure of the where the funds were. That will enable us to get a CETV as of 2003; we'd also need information on the amount of interest accrued as of that time. I can see why the calcuations become complex very quickly...

  • maggie
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11 Feb 08 #13477 by maggie
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Find out whether it's a pension lnked to his salary.
As ex-spouse you're entitled to certain information but you can't ask for the CETV yourself - the pension member has to disclose it - or if not the court can order it
You can ask for:
www.opsi.gov.uk/si/si2000/20001048.htm
(a) a statement that on request from the member, or pursuant to an order of the court, a valuation of pension rights or benefits accrued under that member's pension arrangement, will be provided to the member, or, as the case may be, to the court;

(b) a statement summarising the way in which the valuation referred to in paragraph (2) and sub-paragraph (a) is calculated;

(c) the pension benefits which are included in a valuation referred to in paragraph (2) and sub-paragraph (a);

(d) whether the person responsible for the pension arrangement offers membership to a person entitled to a pension credit, and if so, the types of benefits available to pension credit members under that arrangement;

(e) whether the person responsible for the pension arrangements intends to discharge his liability for a pension credit other than by offering membership to a person entitled to a pension credit; and

(f) the schedule of charges which the person responsible for the pension arrangement will levy in accordance with regulation 2(2) of the Charging Regulations (general requirements as to charges).

It's worth checking the pension scheme manager gets Form A the Ancillary Relief application form - I asked for the above information but was turned away - I believe now that was because my ex hadn't sent Form A to the pension scheme as required.

For a final salary scheme paras e and f are essential to know : membership - what benefits ?money purchase or what else? or transfer out - don't forget annual management charges outside the scheme .When would the pension become payable - how much annual pension would it pay - Can you take a cash lump sum when you take the pension into payment? Would you be better off leaving the pension unshared and using that concession to bargain for a bigger share of the house or savings instead?
As to post- separation pension accrual - wait for the CETV in form E ?- if it's dated at the current date - let the opposition argue that the post-separation accruals should not be taken into account- don't volunteer?

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